IC Markets Review 2024
Written by BrokerNotes.co
Fact-checked by Steven Hatzakis, Joey Shadeck
Edited by Jeff Anberg
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74-89% of retail CFD accounts lose money. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
IC Markets offers a strong forex and CFD trading environment, characterized by competitive fees, extensive educational resources, and a comprehensive range of third-party trading platforms.
Overall Rating
Minimum Deposit
Trust Score
Pros and Cons
Pros
- Competitive Spreads: Average spread on the EUR/USD pair is significantly lower than the industry average, making it cost-effective.
- Education Resources: Extensive educational offerings that cater to both beginner and advanced traders.
- Trading Platforms: Wide array of third-party platforms including MetaTrader, cTrader, and TradingView.
Cons
- No Proprietary Platform: Does not offer a proprietary trading platform, which might be a drawback for some users.
- Limited Tradeable Symbols: Offers fewer tradeable symbols compared to some competitors.
Ratings Summary
- Investment Types - 8.5/10
- Commissions & Fees - 9.5/10
- Trading platforms - 8.0/10
- Research - 7.5/10
- Mobile Apps - 8.0/10
- Education - 7.5/10
- Overall - 8.2/10
Can I trust IC Markets?
We trust IC Markets due to its robust regulatory compliance, including approvals from ASIC in Australia and MiFID in the EU. According to ForexBrokers.com, IC Markets holds a "Trusted" trust score.
IC Markets is currently licensed and/or authorised by the following regulatory bodies:
- Tier-1 Regulators - Australian Securities & Investment Commission (ASIC) and regulated in the European Union via the MiFID passporting system
- Tier-2 Regulators - None
- Tier-3 Regulators - None
- Tier-4 Regulators - Securities Commission of the Bahamas (SCB), Mauritius' Financial Services Commission (FSC), and the Financial Services Authority (FSA)
Is IC Markets good for beginners?
Yes, IC Markets is a commendable choice for beginners, offering both basic and advanced educational videos and resources.
| Feature |
IC Markets
|
|---|---|
| Education (Forex or CFDs) | Yes |
| Client Webinars | Yes |
| Videos - Beginner Trading Videos | Yes |
| Videos - Advanced Trading Videos | Yes |
| Investor Dictionary (Glossary) | Yes |
IC Markets commissions and fees summary
Our review of IC Markets' fee structure reveals it as highly favorable, particularly its low spread of 0.62 on the EUR/USD pair, which is well below the industry average of 1.08. Combined with its active trader discounts and the absence of an inactivity fee, IC Markets stands out as an attractive option for cost-conscious traders.
| Feature |
IC Markets
|
|---|---|
| Minimum Deposit | $200 |
| Average Spread EUR/USD - Mini | 0.72 |
| Average Spread EUR/USD - Standard | 0.62 |
| All-in Cost EUR/USD - Active | 0.62 |
| Active Trader or VIP Discounts | Yes |
IC Markets trading platforms and tools
Did you know? Trading platforms comparison
Of the 60+ brokers reviewed on BrokerNotes, 64% offer a proprietary platform, 100% offer a web platform, 91% offer a desktop platform, 11% offer cTrader, 14% offer ZuluTrade, 81% offer MetaTrader 4, and 64% offer MetaTrader 5.
IC Markets is well-equipped with trading platforms and tools, offering a slew of superb third-party platforms. Traders have access to both MetaTrader 4, MetaTrader 5, cTrader, and TradingView although the absence of a proprietary platform might limit some users.
Trading platforms offered: Numerous third-party platforms but no proprietary platform.
Trading tools: Includes trading signals, offering additional support for trading decisions.
Copy trading: Available, allowing traders to mimic the positions of experienced traders.
| Feature |
IC Markets
|
|---|---|
| Virtual Trading (Demo) | Yes |
| Proprietary Platform | No |
| Desktop Platform (Windows) | Yes |
| Web Platform | Yes |
| MetaTrader 4 (MT4) | Yes |
| MetaTrader 5 (MT5) | Yes |
| DupliTrade | No |
IC Markets trading platform screenshots
Mobile trading apps at IC Markets
IC Markets offers a functional mobile trading application, meeting the standard expectations for on-the-go trading.
| Feature |
IC Markets
|
|---|---|
| Android App | Yes |
| Apple iOS App | Yes |
| Mobile Economic Calendar | Yes |
| Mobile Alerts - Basic Fields | Yes |
| Mobile Charting - Draw Trendlines | Yes |
| Mobile Watchlist | Yes |
IC Markets mobile app screenshots
How do I open an account with IC Markets?
- Visit the IC Markets website.
- Complete the online application form with personal details.
- Verify identity and residence through required documents.
- Fund the account using one of the supported methods.
- Start trading.
What can I trade at IC Markets?
IC Markets offers a diverse range of trading options, with 61 forex pairs and 3,583 tradeable symbols, which is slightly below the industry average of 3,623 symbols.
| Feature |
IC Markets
|
|---|---|
| Tradeable Symbols (Total) | 3583 |
| Forex Pairs (Total) | 61 |
| Social Trading / Copy Trading | Yes |
| Cryptocurrency (Physical) | No |
| Cryptocurrency (Derivative) | Yes |
| Spread Betting | No |
IC Markets research screenshots
Account funding at IC Markets
IC Markets supports a variety of funding options including bank wires, and eWallets like Neteller, PayPal, and Skrill, alongside support for credit cards.
| Feature |
IC Markets
|
|---|---|
| Visa/Mastercard (Credit/Debit) | Yes |
| Bank Wire (Deposit/Withdraw) | Yes |
| PayPal (Deposit/Withdraw) | Yes |
| Skrill (Deposit/Withdraw) | Yes |
| Neteller (Deposit/Withdraw) | Yes |
About IC Markets
IC Markets, established in 2007, has grown to become a significant player in the online forex and CFD trading industry. Known for its strong emphasis on technological integration and comprehensive educational resources, IC Markets continues to appeal to a broad spectrum of traders, from beginners to advanced, seeking efficient trading conditions and robust third-party platform support.
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Methodology
At BrokerNotes.co, our data-driven online broker reviews are based on our extensive testing of brokers, platforms, products, technologies, and third-party trading tools. Our product testing extends to the quality and availability of educational content, market research resources, and the accessibility and capabilities of mobile platforms and trading apps. We also dive into each broker’s trading costs, such as VIP rebates, inactivity fees, custody fees, bid/ask spreads, and other fee-based data points.
Steven Hatzakis, an industry veteran with decades of experience in the forex market, leads the BrokerNotes research team. All BrokerNotes content is researched, fact-checked, and edited by the research team.
All websites and web-based platforms are tested using the latest version of the Google Chrome browser. Our Desktop PCs run Windows 11, and we use MacBook Pro laptops running the latest version of macOS to test trading on the go. We test mobile apps and products using iPhones running iOS 17 and Samsung devices running Android OS 14.
Note: The online brokers on our site provide the ability to trade forex in one or more ways, such as non-deliverable spot forex (i.e., rolling spot contracts), contracts for difference (CFD), or other derivatives such as futures. The availability of specific markets or features will depend on your country of residence and the broker's applicable brand or entity that services your account(s).
Forex Risk Disclaimer
There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Learn more about foreign exchange risk.
About the Editorial Team
BrokerNotes.co provides unbiased forex broker reviews and ratings to help traders and investors find the best broker for their needs. All content is researched, fact-checked, and edited by our research team and all ratings and rankings are based on the team’s in-depth product testing.
Steven Hatzakis is the Global Director of Online Broker Research for BrokerNotes.co and ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. A forex industry expert and an active fintech and crypto researcher, Steven advises blockchain companies at the board level and holds a Series III license in the U.S. as a Commodity Trading Advisor (CTA).
Joey Shadeck is the Content Strategist and Research Analyst for BrokerNotes.co and ForexBrokers.com. He holds dual degrees in Finance and Marketing from Oakland University, and has been an active trader and investor for close to ten years. An industry veteran, Joey obtains and verifies data, conducts research, and analyzes and validates our content.
Jeff Anberg is a Staff Editor at BrokerNotes.co and ForexBrokers.com. Along with years of experience in media distribution at a global newsroom, Jeff has a versatile knowledge base encompassing the technology and financial markets. He is a long-time active investor and engages in research on emerging markets like cryptocurrency. Jeff holds a Bachelor’s Degree in English Literature with a minor in Philosophy from San Francisco State University.